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Overview - 2018/2019

If the idea of helping people find solutions that protect themselves and the ones they care for appeals to you, then Fanshawe's Business - Insurance program may be for you. In this program, you'll study forms of general insurance, underwriting, claims investigation, risk analysis and contracts which will prepare you for a range of entry to junior-level career paths in the growing field of insurance. Designed with employment-focused learning in mind, graduates are well-positioned to enter careers as a customer service representative, underwriter, claims adjuster, loss control specialist, risk manager, appraiser, and broker or agent. Careers in the insurance industry are in high demand – in fact, many of our students secure jobs before they graduate!

You'll be taught and mentored by industry professionals, examining automobile, property and liability insurance. You'll even have the opportunity to attend industry events and conferences offered by the Insurance Brokers Association of Ontario and the Ontario Insurance Adjusters Association and will mingle with future colleagues and potential employers.

Program coordinator:

Admission Requirements - 2018/2019

OSSD with courses from the College (C), University (U), University/College (M), or Open (O) stream WITH: - Any Grade 12 English (C) or (U) - Mathematics* ONE OF: - Any Grade 12 Mathematics (C) or (U) - Any Grade 11 Mathematics (C), (U), or (M) (Note: a minimum final grade of 60 required for any Grade 11 Mathematics course)OR Academic and Career Entrance Certificate (ACE)OR Ontario High School Equivalency Certificate (GED) AND: - Mathematics* ONE OF: - Any Grade 12 Mathematics (C) or (U) - Any Grade 11 Mathematics (C), (U), or (M) (Note: a minimum final grade of 60 required for any Grade 11 Mathematics course)OR Mature Applicant with standing in the required courses and grade stated above

Note:

*Applicants who lack the required Mathematics may still gain eligibility for admission by completing appropriate prior upgrading.

English Language Requirements

Applicants whose first language is not English will be required to demonstrate proficiency in English by one of the following methods:

A Grade 12 College Stream or University Stream English credit from an Ontario Secondary School, or equivalent, depending on the program's Admission Requirements

Test of English as a Foreign Language (TOEFL) test with a minimum score of 550 for the paper-based test (PBT), or 79 for the Internet-based test (iBT), with test results within the last two years

International English Language Testing System (IELTS) Academic test with an overall score of 6.0 with no score less than 5.5 in any of the four bands, with test results within the last two years. SDS Program Requirements.

Canadian Academic English Language (CAEL) test with an overall score of 60 with no score less than 50 in any of the four bands, with test results within the last two years

Pearson Test of English Academic (PTE) with a minimum score of 53, with test results within the last two years

A Cambridge English Test (FCE/CAE/CPE) with an overall score on the Cambridge English Scale of 169 with no language skill less than 162, with test results within the last two years

An English Language Evaluation (ELE) at Fanshawe College with a minimum score of 70% in all sections of the test, with test results within the last two years

Recommended Academic Preparation

Academic and Career Entrance Certificate (ACE): Business Mathematics course and Computer Skills course

Applicants who do not meet the stated admission requirements for the Business - Insurance program should apply to the one-year Business Fundamentals Ontario College Certificate program, Program Code BFS2. The Business Fundamentals program is recommended for students who require or desire academic upgrading, particularly in Mathematics and English, before pursuing a business diploma program. Students who successfully complete the Business Fundamentals program may be eligible for admission to Level 2 of any two-year business diploma program at Fanshawe College.

Recommended Personal Preparation

Exposure to the business world through part-time employment or business courses

Exposure to Microsoft Office software, or its equivalent

Advanced Standing

Applicants may apply for advanced standing on the basis of previous academic achievement at another institution and/or Prior Learning Assessment and Recognition (PLAR). Advanced standing qualifies the applicant for direct entry to a second or higher level of the program.

Applicant Selection Criteria

Where the number of eligible applicants exceeds the available spaces in the program, the Applicant Selection Criteria will be:

Preference for Permanent Residents of Ontario

Receipt of Application by February 1st (After this date, Fanshawe College will consider applicants on a first-come, first-served basis until the program is full)

Courses

Business - Insurance-2018/2019

Year 1

Gen Ed - Take a 3 credit General Education elective courseTake all of the following Mandatory Courses:

ACCT-1100

Principles of Accounting 1

3

This course introduces the student to the Principles of Accounting, and includes an exploration of the underlying concepts that guide the preparation of accounts for individuals and organizations. It is designed to teach the student, regardless of program destination, an essential life skill - an understanding of Net Worth, and its importance to business success and the financial well being of the individual.

WRIT-1032

Reason & Writing-Business 1

3

This course will introduce business students to essential principles of reading, writing, and reasoning at the postsecondary level. Students will identify, summarize, analyze, and evaluate multiple short readings and write persuasive response essays to develop their vocabulary, comprehension, grammar, and critical thinking.

MKTG-1012

Principles of Marketing 1

3

This course is designed to provide an overview of the decisions that face Marketers in today's fast-paced and competitive business environment. Students will learn that marketing is not only advertising but a broad set of activities designed to satisfy consumer needs and wants. Students examine the information Marketers require for effective decision-making and learn the basic elements of the marketing planning process.

MATH-1052

Business Math

3

This course provides a review of basic arithmetic and algebra as well as providing students with mathematical tools and concepts needed for other college courses and in future employment. This course is to prepare students for later courses in Marketing, Business, Financial Planning, Accounting, Purchasing and Insurance.

BUSI-1060

Strategies for Success

1

This course presents and helps to develop some of the skills required to achieve academic and career success. Areas of focus include college resources, study skills, time management, academic integrity, emotional self-awareness and social skills development. Additionally, emphasis is placed on career readiness and preparation.

BUSI-1005

Introduction to Business Processes

3

This course explores the various functional areas of business in Canada and demonstrates the interrelationship among these areas. Students are introduced to many concepts, including major business trends, the role of government in business, marketing, operations, employee-management issues, financial resources management, business ethics and social responsibility.

INSR-1001

Fundamentals of Insurance

4

The objective of this course is to introduce students to the principles and practice of insurance by showing the multi-faceted nature of the insurance business, dealing with risk and how insurance responds to it, looking briefly at some of the law that deals with insurance, introducing many of the terms and practices commonly encountered in the business, and outlining the basic policy coverages for automobile and property insurance.

FINA-1004

Finance 1

3

A general education course developed to provide students with the fundamental financial life skills so that they can make educated financial management decisions over the course of their lifetime. The emphasis is on those financial life skills that are of particular relevance in the early stages of the financial management life cycle.

ECON-1019

Contemporary Issues in Economics

3

This is a survey course which introduces students to the structure and function of our economic system. The course will give students a basic understanding of the principles of both micro and macroeconomic activity through modeling and analysis. Students will examine the role that households (consumers), industry (producers) and governments play in a modern economic system and how the decisions by these different levels affect all of our lives. The course is structured to provide insight through lectures, discussions and current events.

INSR-3021

Property Insurance

4

This course explores personal property insurance in Canada. Students will develop an understanding of the legislation and regulations that govern property insurance. Perils, exclusions, extensions and endorsements will be discussed in the context of the Homeowner's forms. Other types of property insurance will also be explained. Students will be introduced to Commercial property insurance and the application of property insurance in the context of underwriting and claims.

MGMT-3041

Organizational Behaviour

3

Organizational behaviour (OB) theories and concepts are applicable to various work settings-private, public, for-profit, and not-for-profit. This course investigates how individuals, groups, and structures influence and are, in turn, influenced by behaviours in organizations. Discussion will focus on topics that include: history of OB; evolution of organizational structure, design and culture; work place productivity, employee skills and technology demands; conflict resolution; interpersonal skills; legislation related to workplace discrimination and harassment; leadership; and management of change, power, and organizational politics.

Year 2

Take all of the following Mandatory Courses:

COMM-3020

Professional Communication

3

This course develops students' literacy and professional communication skills. Students focus on current business issues and convey relevant meaning in oral and written format. The main themes of the course include writing reports and other relevant business documents (e.g. letters, short reports); communicating in groups and meetings; awareness of intercultural communication and diverse audiences; the job search (including resumes and cover letters); business; business rhetoric in speaking and writing; summarizing and evaluating current business-related readings; delivering presentations; researching and documenting reports using APA format; and self-editing skills.

INSR-3001

Auto Insurance

4

This course studies the laws and basic principles of automobile insurance as they apply in Canada. The various policy forms and endorsements used in Ontario are examined. The basis for determining automobile insurance rates and the underwriting philosophy are also studied.

INSR-3005

Insurance Against Liability

4

This course provides the student with the basic principles of legal liability in Canada, including the Canadian legal system. The various general liability policies currently used are studied, as are the underwriting criteria and loss identification/ prevention methods that are relevant to the policies.

LAWS-3018

Ethics & Law

3

An examination of the principles of Canadian business law with a focus on commercial purchasing issues including contract, personal and commercial liability and fiduciary obligations.

INSR-3016

Building Construction & Basic Hazards

3

This course deals with the basic elements of the fire hazard. It does not discuss insurance as such, instead you will focus on certain aspects of the physical risk that may be subject to insurance. Topics discussed will include construction types, roofing, heating, electricity, flammables and combustibles, and fire protection.

BUSI-1099

Customer Relations

3

This course covers the concepts and skills needed to provide exceptional service to consumers in the both for-profit and not-for-profit businesses and emphasizes how to develop skills in order to establish and maintain long-term customer relationships within various industry sectors. Emphasis is placed on using case studies in order to learn how to project a customer-friendly image, how to handle demanding customers and most importantly how to appreciate cultural differences in customer service expectations.

INSR-3020

Risk Principles

3

Students will develop an understanding of the risk management process, and its costs and benefits to an organization. This course focuses on identifying and analyzing loss exposures in the areas of property, liability, management, personnel and net income. Students will also be introduced to forecasting and understanding and applying cash flow analysis.

INSR-3015

Fraud Awareness & Prevention

3

This course will discuss how fraud may arise under insurance policies and what initiatives the insurance industry has advanced to fight fraud. The cost of fraud is considered as well as the laws that affect how insurers must handle claims investigations and settlements. Property, liability and automobile claims are examined. Students are encouraged to develop an awareness of fraud in both the new business process and renewal process.

INSR-3011

Underwriting Essentials

4

This course gives an overview of the underwriter's role as an investor of shareholder capital on behalf of the insurer. It describes how the role has evolved and how the underwriter accepts or rejects risks for the insurer within parameters set by the insurer and imposed by the external environment. The course reviews the temperament, skills and knowledge an underwriter needs to succeed and shows how these characteristics apply in the analysis of individual property, liability and automobile risks.

INSR-3012

Essentials of Loss Adjusting

4

Focused knowledge of insurance and professional conduct within the claims domain forms the core of this course. Soft skills and knowledge required to handle claims are blended in the curriculum in order to provide fundamental claims handling techniques. Students will learn about managing relationships in order to gather critical information in the claims handling process. A step-by-step process delivers the key to policy analysis for coverage evaluations. Students will also learn the fundamentals of investigation, evaluation, negotiation and settlement within the claims process. Specific introductory knowledge will be covered in automobile, property and liability claims.

INSR-3019

Broker/Agent Essential Skills

3

This course is an overview of insurance business practices from the broker's perspective. It is a skills-based course concentrating on the needs of personal lines clients and small commercial risks. The course introduces the broker as an insurance intermediary, studying the skills that a typical broker will use to perform effectively. The major product lines and common policy transactions handled by a broker are also examined.

COMP-3077

Excel for Business-Adv

3

Modern spreadsheet programs perform far beyond simple number crunching. The functionality of Microsoft Excel continues to move the application into new venues such as visual interactive data presentations or sales proposals. Given the now commonplace nature of the program, it is crucial that all business minded professionals have a comprehensive knowledge of MS Excel. Upon successful completion of this curriculum, students will be trained in MS Excel 2016 for MOS (Microsoft Office Specialist) expert level Excel certification. MOS testing is available at certified testing centers across Canada.

Gen Ed - Electives

Take 3 General Education Credits -Normally taken in Year 1

Program Residency

Students Must Complete a Minimum of 19 credits in thisprogram at Fanshawe College to meet the Program Residencyrequirement and graduate from this program

Careers - 2018/2019

Career Opportunities

Graduates of the Business - Insurance program are prepared to enter the property and casualty insurance industry in a variety of fields, including underwriting, claims adjustment, brokerage, agency or direct writers, loss control and risk management. Graduates are suited to a variety of entry-level to junior-level positions, including customer service representative, underwriter, claims adjuster, loss control specialist, risk manager, appraiser, and broker or agent.

Contact

Lawrence Kinlin School of Business: 519-452-4290

Program Description

Business - Insurance is a two-year Ontario College Diploma program. This program is designed to prepare students for positions in the property and casualty insurance industry. Students will study forms of general insurance, underwriting, claims investigation, risk analysis and contracts. Students have the opportunity to complete nine of ten credits toward their Chartered Insurance Professional (CIP) designation issued by the Insurance Institute of Canada. Graduates work in high-demand areas of insurance such as underwriting, claims adjusting, brokerage or agency services and risk management.

Other Information

The Business - Insurance program shares a common first level with all business diploma programs in the Lawrence Kinlin School of Business which allows for program transfer, with no loss of credit, after Level 1.

Students entering Level 1 of the program in January are expected to proceed into Level 2 of the program in the summer term. Students entering Level 1 of the program in March or May will proceed to Level 2 of the program in September.

Graduates may be eligible for admission to the following Graduate Certificate programs in the Lawrence Kinlin School of Business: Agri-Business Management, Human Resources Management, International Business Management, Logistics and Supply Chain Management, Marketing Management, Operations Management, Professional Financial Services, or Project Management. Graduate Certificate programs deliver a specialized professional curriculum in two four-month levels.

Learning Outcomes

The graduate has reliably demonstrated the ability to

1. Recognize the economic and social importance of insurance.

2. Demonstrate an understanding of the organization and structure of both the General and Life Insurance Companies.

3. Analyze the coverage provided by the various policies currently available through insurance companies.

4. Follow the proper principles and procedures used in adjusting losses and settling claims and to complete and explain the necessity of the documentation used.

5. Recognize and evaluate the various factors affecting the acceptance and underwriting of any insurance risk.